Industry Odisha Bureau, Aug 13: As the reported cloud of uncertainty still hovers over the contentious Strait of Hormuz and the thorough passage of commercial vessels is reportedly still in disarray following the renewed tug of war between the Trump-led US regime and its bête noire Iran, the US Energy Information Administration (USEIA) has reportedly predicted that the deadlock could continue to persist not only in August, but also in September resulting in further depletion of the global oil inventories even in the ensuing months this year.
As per the international media reports, the USEIA’s latest Short Term Energy Outlook has reportedly anticipated that, “The reduced shipments through the waterway are expected to further draw down global oil inventories in the coming months.”
On the prices of crude oil, the USEIA has also reportedly predicted that, “Brent crude oil to average around $85 per barrel during the third quarter of 2026, i.e. $11 per barrel higher than projected just a month ago. Prices are expected to ease to around $78 per barrel in the fourth quarter as shipping increases and more oil production comes back online.”
Reportedly, the USEIA has further predicted that, “Brent crude oil prices to decline further in 2027, averaging around $69 per barrel as inventories rebuild and supplies recover. Approximately 600,000 barrels per day could, however, remain offline through the end of 2027 as some producers face difficulties restoring output to the pre-conflict levels.”
International media reports, citing the USEIA forecast, has also cautioned that, “The economic consequences of the supply chain disruptions caused by the Strait of Hormuz could continue long even after normalcy is restored and more shipments are resumed through the Strait.”
